Specialised polymer materials and solutions provider PolyOne has acquired Magenta Master Fibers, an innovative developer of speciality solid colour concentrates for the global fibre industry, in a deal worth US$22m. 

Magenta's solutions span a wide range of uses, including clothing and apparel, outdoor equipment, and high-performance products. With operations in Milan and Shanghai, 65% of the company's revenues are outside of North America. 

PolyOne says the acquisition will allow the company to build on "the same deep breadth of speciality solid and liquid colourant solutions for fibre applications" that it has up to now. 

Indeed, it will broaden the group's solutions portfolio of colourant and additives technologies for fibre applications, extends PolyOne's existing reach into strategic end markets such as transportation and consumer goods, and acccelerates global growth with local manufacturing and commercial presence in Europe and Asia.

"This is another excellent, strategic acquisition that will further accelerate our speciality strategy," said CEO Robert Patterson. "Similar to our past colour business acquisitions of ColorMatrix and Accella, we will utilise our invest-to-grow integration approach to help our customers innovate and succeed."

Magenta will operate within PolyOne's Global Colour, Additives and Inks segment, which last month unveiled new ColorMatrix Fiber Colorant Solutions that provide late-stage colour injection in fibre applications utilising liquid solutions. 

"PolyOne's unique, customer-first approach to color and additive solutions begins with an unbiased perspective as to the technology. By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer's specific needs," explained John V Van Hulle, president, Global Color, Additives and Inks, PolyOne Corporation.  "With our acquisition of Magenta, we're very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fibre applications."